Longmont posts gain in sales-tax revenue
Last Updated: 15:10 January 23, 2013
Longmont collected $3,929,726 in December, compared with $3,752,306 in December 2011. The collection in December represents sales made in November.
The sales-tax component of collections increased by 2.4 percent from the same month the year before, and the use-tax component increased by 15 percent.
Total sales- and use-tax collections for the year to date increased 4 percent compared with the same period in 2011, according to the report.
Automotive, food and general categories gained for the year to date compared with the same period in 2011. Automotive sales-tax revenue was up 7.7 percent; food sales tax was up 6.5 percent. General sales tax was down 1.3 percent, and utilities sales-tax revenue decreased 0.8 percent for the year to date, compared with the same period in 2011.
Lumber, manufacturing and vehicle categories all showed increases in use-tax revenues as well for the year to date. Use-tax revenue was up 66.8 percent for lumber, 32.8 percent for manufacturing and 10.5 percent for vehicles, compared with the same period in 2011.
In total, sales- and use-tax revenue collected in December, along with previous tax revenue collected in 2012, represents more than 89 percent of the cumulative 2012 Longmont city budget, according to the finance department's latest tax report.
City lodging-tax revenue increased 1.4 percent month over month, with $17,419 in lodging-tax revenue collected from hotels in December for the month of November, compared with $17,171 in November 2011.
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